Moon Hyuk-soo, President of LG Innotek: "LG Will Establish a Long-Term Presence in Vietnam"

【HANOI, Vietnam—Correspondent Jun-seok Kim】Moon Hyuk-soo, CEO and president of LG Innotek, reaffirmed LG’s intention to expand its local investment after describing Vietnam as a key hub in LG’s global production network. Tran Thanh Man, chairman of Vietnam’s National Assembly, asked LG to develop Vietnam into a key base not only for production but also for research and development (R&D), and to strengthen supply-chain cooperation with local companies.
On the 8th, Moon met with Tran Thanh Man, who was visiting South Korea, in Seoul to discuss LG’s investment and business activities in Vietnam and plans for future expansion.
Moon said, "Along with the development of friendly relations between South Korea and Vietnam, LG has also continued to expand its investment, production, and business operations in Vietnam. Vietnam has become an important link in LG’s global production network."
He added that Vietnam’s stable political and economic environment, support from the Vietnamese government and National Assembly, and cooperation from local governments had played important roles in the success of LG’s local investments. LG has currently invested more than $10 billion (approximately 13 trillion won) in Vietnam.
Chairman Tran highly praised LG Group’s investments and business achievements in Vietnam and urged LG to continue using Vietnam as a key hub for global production and the research and development of major products. He also asked LG to make Vietnam a long-term base for investment, production, and business, strengthen ties with local companies, and support the participation of more Vietnamese firms in LG’s supply chain.
Moon shared details of projects underway in Vietnam and plans to expand production and business operations, and called for expanded policy support for advanced-technology companies. He also asked the government to maintain support measures tailored to the scale and characteristics of each project and continue incentives for advanced-technology investment. In addition, he requested that the government actively gather the views of foreign-invested companies during the process of revising laws and institutions to improve the stability and predictability of the investment environment.
Moon reaffirmed LG’s commitment to establishing a long-term presence in Vietnam. He emphasized that LG would continue expanding its investments, contribute to economic growth, and strengthen its role as a bridge deepening economic and investment cooperation between South Korea and Vietnam.
Chairman Tran said relevant agencies would review LG’s requests and that he would work to resolve the difficulties faced by foreign investors and create a stable investment environment.

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